In thinkScript®, you decide which kind of data to analyze with which methods. Share PriceĪdani Ports & Special Economic Zone.ThinkScript® is a built-in programming language that gives you the capability of creating your own analysis tools such as studies, strategies, watchlist columns, etc. Most Searched Stocks Sun Pharmaceutical Industries. Ideally, it should be used with other indicators such as RSI, MACD and ADX to make a winning trade.
For that we need to check Aroon Up to understand if it is weakening or not.Ī stock is said to be consolidating when both Aroon Up and Aroon Down are trading parallel to each other. When Aroon Down remains in the 0-30 range, it does not mean the prices are moving lower. There is a higher chance of prices moving higher when Aroon Up remains between 70 and 100. A move to 100 and the simultaneous move of Aroon down below 30 shows upside strength. When Aroon is showing a value of 100, it shows that a trend may be emerging (strength). The Aroon should be at 10 or below with a reversal candle bar,” he said. "The opposite holds true if the trader is in a short and is looking for a signal as to when the trend is going to reverse upwards. When the trader is long, look for the Aroon Up 90 (or more) is good range to add more weight-age, look for a reversal candle bar, called a Hammer bar,” said Kumar.
"Aroon can be useful when one is utilising weekly charts and is looking for a signal for when the trend is reversing. This indicates a greater propensity for new lows than highs. Similarly, when Aroon Up is below 50 and Aroon Down is above 50, we could say that the bears have an edge. In other words, this indicates a greater propensity for new highs than lows. When Aroon Up is above 50, as shown by the green line and Aroon Down is below 50 as shown by the red line, it signifies that the bulls have an edge. When Aroon Up crosses over Aroon Down, it signals a new trend on the upside and vice versa. These three levels are important for interpretation. The Aroon indicators fluctuate between o and 100 and there is a centre point at 50.
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